The UAE's Abu Dhabi National Oil Co plans to increase its downstream refining and petrochemicals capacity as part of a newly approved strategy from the government, ADNOC's CEO said Monday. "Under its new 2030 strategy and five-year business plan, ADNOC will diversify and increase production of its petrochemical portfolio, while opening new markets to ensure sustained profitability", Sultan Ahmed al-Jaber said during the keynote speech at an energy conference in Abu Dhabi. "It also intends to expand its refining capacity to meet growing demand for refined products", he said.